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. >>> two major japanese automakers, toyota motor and mazda motor, are expanding their business alliance this time abroad. they have agreed to produce a toyota brand car at mazda's plant in mexico. the companies have announced that they will make 50,000 subcompact cars a year at a plant mazda is now building in central mexico. production is scheduled to begin around the summer of 2015. toyota plans to sell the cars in north america. a new design based on mazda's demio model will be used for this new car. toyota will pay for part of the necessary production equipment and also shoulder some development costs. with the agreement, toyota aims to strengthen its lum in north america. mazda on its part is hoping to ramp up production efficiency at the new plant and improve its profitability. the two firms had earlier joined hands to produce a hybrid car in japan. >>> japanese steelmakers have reported sharp profit declines in their first half of their business year. that's due to flagging overseas demand and increasing competition from china and south korea. three steel companies said that alth
.27. >> more bad news for toyota. the company is recalling nearly 2.8 million vehicles because of two separate problems. >> and defects 13 different models including the popular prius hybrid. this time, the move concerns a defect in the steering shaft and problems with the water pump. toyota says no injuries or accidents have been reported. well, one of the world's most famous diamonds has sold at auction for nearly 17 million euros. it is named after the archduke yosef, its former austrian owner. >> the 76-carat diamond, which is described as internally flawless, came from ancient mines in india. it sold to an anonymous telephone bidder. it is the highest price per carry -- carat ever paid for a colorless diamond and well above the pre-sale estimate. >> we have to take a break, but when we come back, we will hone in on a country where the cash is not flowing so readily -- spain. >> after the break, we will touch on another challenge. >> that's in a minute. >> welcome back. the spanish government might soon have another problem to add to its plate. recent polls show that more than half of the
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